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China group paying $900M for Media.net, which runs ads on Yahoo and Bing

Media.net surfaces "contextual" advertisements on Yahoo and Microsoft's Bing search engine.

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A consortium of Chinese investors is buying US startup Media.net.

Teh Eng Koon/AFP/Getty Images

Chinese investors are buying ad-tech startup Media.net for $900 million, Bloomberg reported Monday.

Media.net specializes in tailoring a web page's ads based on the content the page displays. Yahoo and Microsoft's Bing search engine use Media.net's services.

The group purchasing the company is led by the chairman of a Chinese telecom company. Zhang Zhiyong of Beijing Miteno Communication Technology said the firm wants to accelerate its shift into mobile ads with Media.net, according to Bloomberg.